Japanese e-commerce giant Mercari has expanded its presence in the cryptocurrency sphere with the launch of Ethereum trading services on its app. The company, known as Japan’s largest marketplace, has shifted its focus towards cryptocurrencies in recent years, with the introduction of a crypto exchange that is integrated with its marketplace app. A survey conducted last year revealed that newer Japanese crypto users preferred using the crypto exchanges offered by Mercari or its e-commerce rival Rakuten over more established players in the market. Mercari also started accepting Bitcoin on its platform through its Tokyo-based crypto subsidiary Melcoin, with over 100,000 Bitcoin transactions already processed.
The launch of Ethereum trading services on Mercari’s app is being rolled out in stages, with users having the option to purchase Ethereum using credit or debit cards, as well as the company’s loyalty points. While buyers will be able to pay in Bitcoin, vendors will receive yen, and prices will be displayed in yen only. The introduction of Bitcoin trading services on the app earlier this year has already attracted around 2 million users. Interest in Ethereum has been on the rise in Japan, with Google Trends data showing a significant increase in Ethereum-related searches since the beginning of the year. The recent spike in Ethereum interest is likely due to reports suggesting that the United States Securities and Exchange Commission may soon approve spot Ethereum exchange-traded funds (ETFs).
Mercari’s move into the cryptocurrency space reflects a growing trend among e-commerce companies to incorporate digital assets into their platforms. By offering Bitcoin and Ethereum trading services on its app, Mercari is seeking to attract more users and expand its market reach. The success of its crypto exchange and the increasing interest in cryptocurrencies in Japan indicate a promising future for Mercari’s venture into the crypto sphere. With the potential approval of spot Ethereum ETFs in the US, the company’s decision to add Ethereum to its trading services could prove to be a strategic move that positions Mercari as a key player in the evolving cryptocurrency market.
The integration of Ethereum trading services on Mercari’s platform follows the successful launch of Bitcoin trading services earlier this year, highlighting the company’s commitment to expanding its crypto offerings. The ability to buy Ethereum with credit or debit cards, as well as the option to use loyalty points, provides users with convenient and flexible payment methods. As the number of users utilizing Mercari’s Bitcoin trading services continues to grow, the addition of Ethereum trading is expected to further drive user engagement and adoption. With the increasing interest in Ethereum and the potential approval of spot ETFs in the US, Mercari’s decision to introduce Ethereum trading services positions the company for future growth and success in the cryptocurrency market.
